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RCBC and Soft Space Roll Out RCBC Tap-to-Phone to Drive Wider Card Acceptance for MSMEs
Rizal Commercial Banking Corporation (RCBC), one of the Philippines’ leading financial institutions, has partnered with Soft Space, the world’s leading Fintech-as-a-Service (FaaS) provider, to launch RCBC Tap-to-Phone, a cutting-edge SoftPOS solution for Filipino MSMEs to start accepting digital payments.
SoftPOS (Software Point-of-Sale) transforms NFC-enabled mobile devices into secure payment acceptance terminals. With RCBC’s Tap-to-Phone, merchants will be able to accept Mastercard and Visa card payments-be it credit, debit, or prepaid—through their Android NFC smartphones. A QR code is generated as an electronic receipt.
“We believe in partnerships that drive progress and we remain committed to providing Filipino MSMEs with cost-effective and accessible digital payment solutions throughout the Philippines,” RCBC Credit Cards President and CEO Arniel Vincent B. Ong said.
RCBC Tap-to-Phone is powered by FasstapTM , Soft Space’s flagship SoftPOS solution. Supporting all major mobile operating systems in the market as well as a wide range of domestic and international card schemes, this versatility has seen Fasstap™ establish use cases in more than 15 industries including airlines, financial services, logistics, public transportation, food and beverage (F&B) etc.
“Close to 99% of all businesses in the Philippines—over 1.2 million—are MSMEs, so we’re excited about the transformative impact our partnership with RCBC can have,” said Joel Tay, CEO of Soft Space. “By joining forces under SMBC’s broader investment umbrella, our organizations can leverage their shared strengths, demonstrating how aligned strategies and support can support medium and small businesses.”
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